MGM Resorts International (NYSE:MGM) plans to install Solar Photovoltaic Array (SPA), Las Vegas Sands Corp. (NYSE:LVS)

Posted by Kristi Scott July 3, 2013 0 Comment 1024 views

MGM Resorts International (NYSE:MGM) along with NRG Energy, Inc. (NYSE: NRG), through its wholly owned subsidiary NRG Solar has announced that they have planned to install one of the world’s largest rooftop Solar Photovoltaic Array (SPA) at the Mandalay Bay Resort Convention Center in Las Vegas. This rooftop SPA is a 6.2 megawatt installation and MGM’s first ever commercial solar project in the States. This will generate as much as electricity which can serve approximately 1,000 homes.

The rooftop array is expected to produce nearly 20 percent of the Mandalay’s Bay power demand. This will help in decreasing the needs to import the energy from outside thereby lowering the energy costs on a larger scale. The reason behing MGM selecting the Mandalay Bay for the rooftop installation is the large sun oriented rooftop space which is around 20 acres. NRG Solar is engaged in developing the custom design of the project, on completion of the same, Mandalay Bay would purchase the energy created by the array through a Power Purchase Agreement.  MGM through its Green Advantage initiatives have made efforts in reducing natural resource consumptions and have pleasingly reported to have saved 2.5 billion gallons of water and has reduced energy consumptions by 12 percent.

Jim Murren, the Chairman and the CEO of MGM remarked the success of their company by their initiatives to have integrated an environmental responsibility practices in their company operations. He also said the partnership with NRG Solar for the installation of the rooftop is a milestone success achieved by the company. This depicts the company’s efforts in promoting renewable energy and to reduce consumption of the limited natural resource of the planet.

Las Vegas Sands Corp. (NYSE:LVS) develops destination properties (integrated resorts) which features accommodations, gaming experience, entertainment, exhibition and conventional facilities and restaurants along with several other amenities. The company owns and has its operational resorts in Asia and the United States.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

View all post by Kristi Scott Visit author's website

Write Your Comment